Check in with your protection customers for ‘World Hello Day’

Over the weekend, the 48th annual World Hello Day took place. World Hello Day was originally created in 1973 to demonstrate a desire to end conflict and preserve peace. The idea is to greet 10 people to encourage world leaders to pursue communication rather than conflict. So, in the spirit of World Hello Day, we want to encourage you to get in touch with at least 10 of your customers and see if their protection needs have changed. Supporting peace and protection in one fell swoop, what more could you ask for.

The challenges of this year may mean many people are in a completely different situation compared to how they started 2020. But even in a less unusual year, people often experience changes in circumstances that may mean they have different protection needs. As an adviser, it is key that you check in with your customers ever year to ensure their policies are still appropriate. Not only will this help avoid any nasty shocks if the worst should happen and their cover is outdated, but it also helps to strengthen your business by strengthening relationships and building a reputation of reliability and attention to detail. Here are a few things to check in with your customers about:

 

A change in jobs

– A different job may have different benefits, such as sickness pay or a death in service policy, meaning the level of protection should be adjusted.

– Also, a career move to a different sector, for example to construction or healthcare, may mean changes need to be made to policies or a different lender offers a better suited option.

 

Different family circumstances

– A change in family life may mean that customers want to adapt their cover accordingly, for example if a new child has entered the family they may want to increase their life insurance pay out or add children’s critical illness cover to their CIC policy.

 

Mortgage and property changes

– Any change that either increases or decreases the remaining amount of a mortgage loan, such as moving house, paying off a significant chunk of the debt or remortgaging, may mean customers want to amend their policies. This is particularly true if the main purpose of the protection policy is to help pay the mortgage.

– Property prices have been on the rise, which may mean that customers should review how inheritance tax may impact their dependents should they pass away. If the value of their property is now over the threshold amount, they may want to increase their life insurance pay out to cover the tax.

 

Don’t forget, if you have any queries about placing protection cases, you can call our broker support team on 0345 130 7446.

“I love being the voice of protection for Mortgage Intelligence. Going out and talking to our advisers on a personal basis is an integral part of what we do as a network”